2 Ways Trump Says He Will Help College Students

[napi21]

http://www.moneytalksnews.com/2-ways-donald-trump-says-will-help-college-students/?subscriber=yes



However, Trump is making two big promises that college students might like:
Trump wants to cap student loan payments. Trump in October announced that he would work to cap student loan payments at 12.5 percent of a student’s income. In addition, students who make full payments for 15 years might see their remaining debt forgiven.
The Washington Post called the proposal “the most liberal student loan repayment plan since the inception of the federal financial aid program.” However, Trump did not explain how much the plan would cost, nor how he would pay for it.
Trump wants tuition to go down. In September, Trump insisted that if elected, he would hold colleges accountable for lowering tuition costs. If schools refused to play ball, Trump said he would threaten cherished federal funding and tax breaks.



I suppose I should be glad he's even thinking about this, put burdening kids with big loans for 15 years doesn't sound like much of a benefit to me!!

[lapfog_1]

1. 12.5 percent of gross income is HUUUUGE.

Let's say you get a nice $75,000/year job right out of college.

That's $781 a month on a net income (almost no deductions) of $4000 a month.

Better plan on living LIKE a student for 15 years (dorm rooms, pizza every night) because that is all you can afford.

[Roland99]

2. 75k/yr right outta college? Where?? Even at 40k/yr that's over 400/mo.

that's a nice new car payment

[lapfog_1]

3. California Silicon Valley

Avg starting salary for a fresh out is around $75,000. But it's hard to live here on $75K.

[Roland99]

4. and that's a very limited market

[exboyfil]

6. With bonus daughter is probably

at $65K+ in the midwest.She is an engineer, and I don't think she knows how good she has it (been talking about possibly becoming a high school teacher to better conform to her husband's career).

[elehhhhna]

7. 140k in 15 years. If your income stays flat (it will...)

And you're now 38 years old.

Way to crash the housing market, Einsteins.

Also, avg. starting salaries nationally are more like 45 - 65 k if you're not a precious stem grad.

[Jimbo S]

9. Doing the math

12.5% of $75K over 15 years comes to a $140K student loan. Very few students have that. Maybe M.D.'s.

[yurbud]

5. that would almost double my payment from the current income based system

[handmade34]

8. bad idea

this is not the way to help